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Level 2
posted Mar 25, 2023 2:52:46 PM

Additional taxes from previous years paid in CY2022

I owed, and paid additional taxes during CY2022 for previous years.  Is this payment deductible for the 2022 Filing?  

0 3 380
3 Replies
Level 15
Mar 25, 2023 2:54:43 PM

Federal taxes owed and paid in 2022 for a prior tax year are not deductible on a federal tax return.

 

State taxes owed and paid in 2022 for a prior tax year are deductible on a federal tax return, but not any penalties or interest. 

Level 2
Mar 25, 2023 2:59:43 PM

thanks!  I paid both additional state and additional federal. And I was pretty sure of the answer you gave me.  Now I just need to find where to account for the additional state taxes on the federal return.

 

 

Level 15
Mar 25, 2023 3:01:50 PM

To enter state income taxes paid -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Other Income Taxes, click on the start or update button


On the next screen scroll down to Other Income Taxes Paid in 2022


Or enter state taxes paid in the Search box located in the upper right of the program screen. Click on Jump to state taxes paid